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On this day — December 7, 2024
Saturday — the international gold market is closed. Most retail jewellery markets, especially in Asia and the Middle East, see peak Saturday foot-traffic and physical trade activity.
Day 342 of 366 · Q4 2024 · 93.4% through the year
December 2024 gold market: Consolidation caps a historic year
Range-boundA year-end pause after a 25%+ annual gain.
Gold consolidated near $2,620 into year-end as the Fed delivered another cut but guided to a slower 2025 pace. Even after the late-year pause, gold finished 2024 up roughly 25–27% — one of its best annual gains of the century.
What drove gold in December 2024
- Fed cuts but turns more cautious for 2025
- firm dollar
- year-end profit-taking
- record annual central-bank demand
Key events in December 2024
- Dec 18Fed cuts but signals fewer 2025 cuts; gold steadies
What happened next
Gold entered 2025 near record highs, with central-bank demand still the dominant structural driver.
For gold buyers
Closing 2024 up around 25%+ confirmed gold's best year in over a decade — a payoff for buyers who trusted the central-bank and rate-cut story.
Dec 7 across the years — 2020 → 2023
| Year | Dec 7 close | vs prior | |
|---|---|---|---|
| Dec 7, 2023 | $2,026.90 | +13.73% | View |
| Dec 7, 2022 | $1,782.20 | +0.04% | View |
| Dec 7, 2021 | $1,781.40 | -4.23% | View |
| Dec 7, 2020 | $1,860.00 | — | View |